Confluence Investment Management LLC Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Confluence Investment Management LLC trimmed its stake in The Procter & Gamble Company (NYSE:PG) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,676 shares of the company’s stock after selling 828 shares during the period. Confluence Investment Management LLC’s holdings in Procter & Gamble were worth $24,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Procter & Gamble by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after purchasing an additional 733,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after buying an additional 545,601 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Procter & Gamble by 1.3% during the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after buying an additional 79,665 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Procter & Gamble by 3.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after acquiring an additional 216,300 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 1.5 %

PG stock opened at $163.41 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The company’s 50 day simple moving average is $171.29 and its 200-day simple moving average is $168.13. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The firm has a market capitalization of $384.84 billion, a PE ratio of 28.17, a P/E/G ratio of 3.57 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the business posted $1.83 earnings per share. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.46%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent research reports. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. DA Davidson increased their price target on shares of Procter & Gamble from $159.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the transaction, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,597 shares of company stock worth $53,268,499 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.